Rewey Asset Management, an investment management company, released its “RAM Smid Composite” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The year 2024 was outstanding for RAM Smid Composite. The composite appreciated 27.31% in the year, outperforming 10.98% rise of the benchmark Russell 2500 Value Total Return Index and 25.02% return of the S&P 500Total Return index. This marks the sixth straight year in which the RAM Smid composite has outperformed the benchmark, reflecting the firm’s disciplined and long-term investment philosophy. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Rewey Asset Management highlighted stocks like Kyndryl Holdings, Inc. (NYSE:KD) in the fourth quarter 2024 investor letter. Kyndryl Holdings, Inc. (NYSE:KD) is a technology services company and IT infrastructure services provider. The one-month return of Kyndryl Holdings, Inc. (NYSE:KD) was 12.92%, and its shares gained 85.43% of their value over the last 52 weeks. On January 24, 2024, Kyndryl Holdings, Inc. (NYSE:KD) stock closed at $39.33 per share with a market capitalization of $9.135 billion.
Rewey Asset Management stated the following regarding Kyndryl Holdings, Inc. (NYSE:KD) in its Q4 2024 investor letter:
“Kyndryl Holdings, Inc. (NYSE:KD), which we highlighted in our 3Q24 letter, was our top performer in 4Q24, up 50.2%. KD held a well-received analyst day November 21st, where they reaffirmed 2025 financial guidance and set aggressive goals for 2028 margin improvement and Free Cash Flow growth. Investors also cheered the announcement of a $300 million share buyback. We see strong long-term upside in the shares and think KD could be an attractive acquisition target for a consulting or technology services company.”
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Kyndryl Holdings, Inc. (NYSE:KD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Kyndryl Holdings, Inc. (NYSE:KD) at the end of the third quarter which was 36 in the previous quarter. Kyndryl Holdings, Inc.’s (NYSE:KD) second fiscal quarter 2025’s revenue totaled $3.8 billion, a 7% year-over-year decline in constant currency. While we acknowledge the potential of Kyndryl Holdings, Inc. (NYSE:KD) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Kyndryl Holdings, Inc. (NYSE:KD) and shared the list of best stocks to buy according to Billionaire David Einhorn. Rewey Asset Management highlighted its confidence in Kyndryl Holdings, Inc.’s (NYSE:KD) potential for growth in its Q3 2024 investor letter. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.